Analysts: the new US Minister of Finance will continue the case Henry Polson

Timothy Gatener, proposed as Minister of Finance, spoke the day before before the American Congress. He had to apologize for non -payment of taxes in the amount of 34 thousand dollars, which he owed for the period from 2001 to 2004, when he worked at the International Monetary Fund.

“These were careless mistakes, errors are eliminated, but unforgivable. I should have been more attentive,” Gaiter quoted the agency AR.

As for the financial policy that he is going to pursue, Gatener assured the congressmen that the government will play an increasingly active role in all patients of the American economy - from stabilizing the banking system to providing guarantees on loans to small businesses, writes Bloomberg .

Gaiter, who today should be approved by the Senate Financial Committee, said: “We are at the very beginning of the process of restoring the entire system, and this process is not yet visible,” promising to take decisive action along this path. Gatener warned the legislators against building efforts to overcome the crisis until there are obvious and obvious signs of the restoration of the economy. Otherwise, all these efforts can be in vain, as the experience of great depression or a protracted recession of the Japanese economy testifies.

According to most analysts, Gatener will continue Henry, the process of redemption from banks of poor assets from banks at the expense of state funds, will continue to be started by Henry. The market is currently tuned to the fact that Gatener will go even further than his predecessor by creating a “aggregator bank”, in which poor assets of American banks will be merged, after which the cleaned banking system will be able to resume the process of lending to the economy. The fact that this idea is actively discussed was confirmed by the chairman of the financial services committee of the lower house of Congress Barney Frank.

However, Gaitner is not going to limit himself to the ransom of bad assets from banks. The treasury will resort to direct help to small business (in the form of state guarantees on loans received), recipients of loans for education, the purchase of cars and mortgages.

Gatener did not voiced any more specific plans, leaving a number of congressmen dissatisfied. However, the investors received from the gaiter of information were enough to arrange a take -off of the quotes of shares of banks and financial companies that collapsed the day before.